Yunfeng Financial allocated 190 million new shares, falling over 12% during the trading session.

On September 16, the Hong Kong-listed company Yunfeng Financial issued a total of 191 million new shares through a combination of old and new placements, with a placement price of HK$6.1 per share, raising approximately HK$1.17 billion. This placement aims to expand the company's shareholder and capital base and increase the liquidity of the company's shares in the market. The raised funds will primarily be used for the group's system facility upgrades, talent recruitment, and related capital needs, including but not limited to launching comprehensive virtual asset trading services and virtual asset-related investment management services. According to market information, Yunfeng Financial’s stock opened lower and continued to decline, falling over 12% during the session, currently quoted at HK$6.43. Earlier reports indicated that Yunfeng Financial announced that its wholly-owned securities subsidiary, Yunfeng Securities Limited, had been approved by the Hong Kong Securities and Futures Commission to provide virtual asset trading services.